Regulatory Alerts2019-03-27 | NRP-18Added · Updated
Technical Standards for the Provision of External Audit Services
The Standards Committee of the Central Reserve Bank of El Salvador issued Technical Standards NBCR-06/2019 to regulate external audit services for financial system members and securities issuers. The document mandates that external auditors be registered with the Superintendency, limits the number of banks or investment banks a single firm may audit to three, and requires the rotation of audit managers every five years. It further imposes specific notification deadlines, such as reporting auditor appointments within ten business days and resignations within three business days.
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